My wife and I purchased a leasehold house in Drybrook. Conveyancing and Alliance & Leicester mortgage went though with no issue. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1992. The conveyancing solicitor in Drybrook who acted for me is not around.Any advice?

The first thing you should do is make enquiries of the Land Registry to make sure that this person is in fact the registered owner of the freehold reversion. It is not necessary to instruct a Drybrook conveyancing firm to do this as you can do this on the Land Registry website for a few pound. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am tempted by the attractive purchase price for a couple of flats in Drybrook both have about 50 years unexpired on the leases. Should I regard a short lease as a deal breaker?

There are no two ways about it. A leasehold apartment in Drybrook is a deteriorating asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it adversely affects the salability of the property. For most purchasers and lenders, leases with less than 75 years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Drybrook conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

I've recently bought a leasehold flat in Drybrook. Am I liable to pay service charges relating to a period prior to completion of my purchase?

Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

Do you have any advice for leasehold conveyancing in Drybrook with the intention of saving time on the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Drybrook can be avoided if you get in touch lawyers the minute you market your property and ask them to collate the leasehold information which will be required by the purchasers’ solicitors.
• The majority landlords or Management Companies in Drybrook levy fees for providing management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management information sought on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most common reason for delay in leasehold conveyancing in Drybrook.
• In the event that you altered the property did you need the Landlord’s permission? In particular have you laid down wooden flooring? Most leases in Drybrook state that internal structural changes or installing wooden flooring necessitate a licence issued by the Landlord consenting to such changes. Should you fail to have the consents to hand you should not communicate with the landlord without checking with your lawyer first.
• If there is a history of any disputes with your freeholder or managing agents it is essential that these are resolved before the property is put on the market. The purchasers and their solicitors will be nervous about purchasing a flat where there is an ongoing dispute. You will have to accept that you will have to pay any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the purchasers, but it is better to reveal the dispute as historic rather than unsettled.
• If you have the benefit of shareholding in the Management Company, you should ensure that you are holding the original share certificate. Arranging a replacement share certificate can be a lengthy process and slows down many a Drybrook home move. Where a new share is necessary, you should approach the company director and secretary or managing agents (if applicable) for this as soon as possible.

Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £ 450000 flat in Drybrook next week. The landlords agents has quoted £<Macro 'feeRangeWithVAT'> for Landlord’s certificate, insurance certificate and previous years service charge statements. Is the landlord entitled to charge such fees for a leasehold conveyance in Drybrook?

Drybrook conveyancing on leasehold apartments often requires the purchaser’s conveyancer sending enquiries for the landlord to address. Although the landlord is not legally bound to address these enquiries most will be willing to do so. They are at liberty charge a reasonable charge for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is over three hundred pounds, in some cases it is above £800. The administration charge levied by the landlord must be accompanied by a synopsis of rights and obligations in relation to administration fees, otherwise the invoice is not strictly payable. In reality you have little option but to pay whatever is demanded should you wish to sell the property.

Leasehold Conveyancing in Drybrook - Examples of Queries Prior to buying

How many of the leaseholders are in arrears for their maintenance charge payments?